I’m always amazed to hear the investment officers at the Oregon Public Employee Retirement System (OPERS) lauded for their longer-term performance record. It entirely ignores the concept of risk, and fails to acknowledge how the officers’ risk-taking has manifested in the weakened state of the fund today, and the damage its doing to municipal budgets

Stocks belong in a taxable account (because they get capital gain treatment) and bonds belong in an IRA (because they get taxed at current income rates)? Investors love stocks and bonds and generally own a mix of the two, as they should. The accepted best practice for storing the two types of investments is to